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Non-Tech : General Electric (GE) -- Ignore unavailable to you. Want to Upgrade?

To: Sueponine who wrote (930)	8/10/1999 1:04:00 PM
From: TechMkt	Respond to of 3256

They (GE) are still selling machines, even in a stock market storm. Fez _________________ Tuesday August 10, 12:24 pm Eastern Time Conoco to build 4th power plant at Sabine River HOUSTON, Aug 10 (Reuters) - Conoco Global Power, a unit of Conoco Inc.(NYSE:COC - news), said Tuesday it will build a $250 million, 420-megawatt power plant to provide steam and electricity to DuPont Co.'s (NYSE:DD - news) Sabine River Works nylon feedstock plant near Orange, Texas. The project will be Conoco's fourth power plant since it got into the electric power business, the company said. The natural gas-fired cogeneration plant is expected to begin operations in the summer of 2001, Conoco said. On Monday, DuPont said an exchange offer for its remaining 70 percent share of Conoco was oversubscribed. That exchange offer of stock followed DuPont's sale of 30 percent of Conoco in October 1998 in an initial public offering that raised $4.4 billion, the largest IPO in U.S. history. DuPont had acquired Conoco in 1981 for $7.6 billion to secure crude supplies for its chemical plants at a time when oil prices were soaring. On Tuesday, Conoco spokesman Guy Cantwell said the combined-cycle power plant will use two General Electric Co. (NYSE:GE - news) gas-fired turbines and a Mitsubishi Electric Corp. steam turbine. The Sabine River Works Cogeneration Plant will make the DuPont nylon facility completely energy self-sufficient with power and steam from the new cogeneration facility, complementing an existing cogeneration unit and industrial boilers. In a statement, the company said that a Conoco affiliate has a long-term contract to sell electric power and 100 percent of the new plant's steam capacity to DuPont for its Orange, Texas, nylon intermediates facility. Also signed was a contract to sell up to 250 megawatts of capacity for 10 years to PG&E Energy Trading - Power LP, or PG&E ET, a power trading affiliate of PG&E Corp. (NYSE:PCG - news), Conoco said.